Weather tcs is to be claimed as credit on purchase of gold
This query is : Resolved
jayakrishna
(Querist)
17 July 2015
hello every one,
one of my client purchase gold jewellery worth of 16lakhs.at that time seller deducted tcs in the pan no of my client,please tell me weather that tcs credit can be claimed or not.please give answer by refering section numbers and with detailed provision.
thanks in advance...........
one of my client purchase gold jewellery worth of 16lakhs.at that time seller deducted tcs in the pan no of my client,please tell me weather that tcs credit can be claimed or not.please give answer by refering section numbers and with detailed provision.
thanks in advance...........
CA R SEETHARAMAN
(Expert)
17 July 2015
Yes that TCS credit can be claimed while filing return. You can view the TCS in 26AS it is available for adjustment in your tax payments.
TCS applicable for cash purchase of jewellery in excess of 5 lacs.
TCS applicable for cash purchase of jewellery in excess of 5 lacs.
17 July 2015
agreed with above replies
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